TVA approves 1.5% rate increase

TVA approves 1.5% rate increase

The Tennessee Valley Authority (TVA) Board of Directors recently approved a 1.5 percent increase on wholesale electricity rates that will take effect on October 1st.Plateau Electric Cooperative members will see this pass through increase on their November billing cycle.

“In FY19, we enter the sixth year of our long-range financial plan that outlined capital investments in assets to diversify and maintain our fleet, fuel cost savings and a reduction in overall debt.The plan also calls for lower operating and maintenance costs, which have been achieved through the work of our employees,” said TVA Chief Financial Officer John Thomas.

“Rates today remain among the lowest 25 percent in the U.S. and TVA’s wholesale rates are essentially the same as they were in 2013,” said Thomas.

The TVA increase will impact PEC members’ monthly electric bill on average by approximately $1.50 for PEC residential members using 1,000 kilowatt-hours of energy.